Aldeyra Therapeutics (NASDAQ:ALDX) Share Price Passes Above 50 Day Moving Average – What’s Next?

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.69 and traded as high as $1.74. Aldeyra Therapeutics shares last traded at $1.66, with a volume of 778,977 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen cut Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective (down from $10.00) on shares of Aldeyra Therapeutics in a research note on Wednesday, March 18th. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a research note on Tuesday, March 17th. Finally, Weiss Ratings cut Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Stock Down 5.1%

The stock has a market capitalization of $100.13 million, a P/E ratio of -3.61 and a beta of 1.19. The company has a fifty day simple moving average of $1.69 and a two-hundred day simple moving average of $3.76.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. As a group, equities analysts forecast that Aldeyra Therapeutics, Inc. will post -0.43 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other news, Director Richard Douglas purchased 70,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were bought at an average cost of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director directly owned 195,000 shares in the company, valued at approximately $273,000. This trade represents a 56.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.80% of the stock is currently owned by company insiders.

Institutional Trading of Aldeyra Therapeutics

A number of institutional investors have recently modified their holdings of ALDX. Krilogy Financial LLC bought a new stake in Aldeyra Therapeutics during the first quarter worth about $26,000. Abel Hall LLC bought a new stake in Aldeyra Therapeutics during the first quarter worth about $26,000. Chicago Partners Investment Group LLC bought a new stake in Aldeyra Therapeutics during the first quarter worth about $33,000. Caption Management LLC raised its holdings in Aldeyra Therapeutics by 110.6% during the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 132,358 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC bought a new stake in Aldeyra Therapeutics during the fourth quarter worth about $52,000. 59.71% of the stock is currently owned by institutional investors.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapies for immune-mediated diseases. The company’s research efforts center on targeted alkenals, a class of reactive aldehyde species that play a key role in inflammatory pathways. By selectively modulating these pathways, Aldeyra aims to address both ocular and systemic indications with high unmet medical need.

The company’s lead product candidate, reproxalap, is being investigated in several ophthalmic disorders, including dry eye disease, allergic conjunctivitis and non-infectious anterior uveitis.